New exchange rate reflects efforts by Central Bank to bring consistency, predictability to Syria's fragile economy in wake of 13-year civil war
Syria's Central Bank on Wednesday set the exchange rate of 15,075 Syrian pounds per US dollar for all official transactions, aiming to stabilize the currency after years of economic turmoil, including a 13-year civil war.
The rate, the same as Tuesday's, replaced Monday's official rate of 12,562 pounds per dollar, unifying transactions across banks and currency exchanges.
The bank also set a new exchange rate of 15,830.26 pounds per euro, replacing Tuesday's rate of 15,839.30 pounds.
Following the Dec. 8 ouster of Bashar Assad, who ruled the country for nearly 25 years, the Syrian pound showed signs of strengthening on the black market.
The new exchange rate reflects efforts by the Central Bank to bring consistency and predictability to Syria's fragile economy.
